doi’s invoicing process.” processing paper …how can ipp simplify invoicing? ipp offers four...
TRANSCRIPT
ARE YOU STILL PROCESSING
PAPER INVOICES?
The Invoice Processing Platform (IPP):
• Savestaxpayerdollarsthroughmoreefficientinvoiceprocessing.
• Improvesyourfinancialmanagement.
• Makesiteasiertodobusinesswithgovernment.
There’s a better way.Don’t waste another minute chasing paper. Adopt IPP!
Formoreinformation,visitwww.ipp.gov.
WHO’S USING IPP?
Thereare81federalentitiesusingIPPandanadditional21have selectedIPP.Over108,000vendorsareenrolledinIPP.
For a growing list of agencies using IPP, please visit www.ipp.gov.
HOW DOES IPP DIFFER FROM OTHER ELECTRONIC INVOICING SYSTEMS? • It’sprovidedatnochargetofederalagenciesandtheirvendors.
• It’sspecificallydesignedforfederalagencieswiththeirinputandtailoredtogovernmentprocesses.
• It’spartoftheOfficeofManagementandBudget’sSharedFirstInitiative.
• It’ssupportedbytheTreasuryDepartment,whichoverseesallIPPenhancementsandupgrades.
• Itinterfaceswithallmajorfinancialsystemsviabulkfileexchange.
• Itprovidesasecure,independentplatformwithstandardprocessestoefficientlymanageinvoices.
• ItprovidesdetailedremittanceandTreasuryoffsetinformation,makingiteasierforvendorstomatchpaymentstoindividualinvoices.
• Itprovidesoneservicethatallowsvendorstotransactwithmultiplefederalagencies.
“IPP has streamlined and standardized the DOI’s invoicing process.” – Becky Reilly, IPP Project Lead,
Department of the Interior
“The support team has been outstanding. They’ve bent over backwards to help us.”
– Bob Deans, Manager of FinancialSystems, Bureau of Engravingand Printing
June 2017
TheInvoiceProcessingPlatform(IPP)isaU.S.Treasuryservicethatmoreefficientlymanagesgovernmentinvoicingfrompurchaseorder(PO)throughpaymentnotification,atnochargetofederalagenciesandtheirvendors.
WHY ADOPT IPP? It saves time and money.Withmoreefficientinvoiceprocessing,federalagenciescanavoidPromptPaymentpenaltieswhileautomatinginvoicereceipt,validationandapprovalworkflows.Vendorscanmanagetheirreceivablesmoreeasilyusingoneservicetotransactwithmultipleagencies.
It improves financial management.IPPmanagesgovernmentinvoiceswithincreasedcontrolsandsupportspaperworkreductioninitiatives.Inadditiontoreducingoverbilling,IPPalsopartnerswithTreasury’sDoNotPaybusinesscentertohelpprevent,reduceandstopimproperpayments.
It makes it easier for vendors to do business with government. IPPisconfigurabletosupportagencybusinessrulesandcomplementsagencies’existingsystems.Italsoprovidesaconsolidatedviewofalltransactiondata—fromPOtopayment—inoneplace.
OTHER KEY BENEFITSOnefederalagencyreducedthecostofprocessingundisputedanddisputedinvoicesby54percentand43percent,respectively.TheTreasuryDepartmentestimatesthatbyadoptingIPP,thefederalgovernmentcanreducethecostofenteringinvoicesandrespondingtoinvoiceinquiriesby$450millionannually.
IPPreliablysupportshightransactionvolumes—In 2016, IPP provided notification of five million payments and processed nearly 423,000 invoices.
IPPprovidesasecureplatformforfederalagenciesandvendorstoefficientlymanageinvoicesoutsideagencies’corefinancialsystems.
HOW CAN IPP SIMPLIFY INVOICING? IPPoffersfourmodulesfederalagenciescanadopttogether,aloneorinphasestoachievemoreefficientinvoiceprocessing:
1. Purchase Orders.IPPuploadsPOsfromagency’sbusinesssystems,notifyvendorswhentheypostanewPOandgivevendorsonlineaccesstoPOs,whichresultsingreatervisibilityintoalltransactiondataanddocumentsassociatedwithaPO.
2. Invoices.IPPgivesvendorsmultiplewaystosubmitinvoices,suchasbypre-populatinginvoiceswithdatafromPOswithinthesystem,creatinginvoicesonlinewithoutaPOorusingelectronicfilesubmission.IPPthenscreensvendorinvoicesagainstagencybusinessrules,automaticallyflagginganyareasthatdonotcomplyforvendorstocorrect.
3. Workflow.IPPautomatesandsupportsasophisticatedinvoiceapprovalprocessbyofferingmultipleapprovalstepsandoptionstodelegate,reassignorescalateaninvoiceifitisnotprocessedpromptly.
4. Payment Notification.Vendorscangoonlinetocheckpaymentstatus,orchoosetoreceivee-mailswithasimplenotificationofpaymentordetailedremittanceinformation.Thisservicereducespaymentstatusinquiriesandenablesvendorstomoreeasilymanagetheirreceivablesandmatchpaymentstospecificinvoices.
WHAT SUPPORT SERVICES ARE AVAILABLE?
The IPP team offers the following support services at no charge:
• Agencyimplementation,projectmanagementandtraining
• Customerservice/helpdeskforagenciesandtheirvendors
• Applicationupgradesandenhancements
• Vendoroutreach,analysis,enrollmentandmanagement
• Businessprocessanalysis
• SecurehostingbyTreasurywithdisasterrecovery
“Using IPP is like moving from paper checks to online banking—federal agencies can pay invoices faster using fewer resources.”
– Sheryl Morrow, Commissioner, Bureau of the Fiscal ServiceU.S. Department of the Treasury WHAT ARE THE KEY
IMPLEMENTATION STEPS?
FEDERAL AGENCIES
1. ScheduleaninitialconsultationandcompleteanAgencyImplementationSurvey.
2. SignanAgencyParticipationAgreement.
3. Establishaprojectteam.
4. Conductakick-offmeeting.
5. Beginprojectdiscoveryandplanning.
6. SelectIPPmodules.
7. Configuremodulesandimplementinterfaces.
8. Conductqualityassuranceanduseracceptancetesting.
9. Invitevendorstoenroll.
10. Golive!
VENDORS
1. Receiveaninvitationtoenrollfromafederalagency.
2. Completeonlineenrollment.
3. StarttransactingviaIPP.
It’s easy to adopt IPP. For more information, visit
www.ipp.gov.